The Central Bank of Nigeria has issued a warning that anyone spreading false information about the naira redesign policy will be investigated, arrested, and punished. The warning came after a purported press release was shared on First Lady Aisha Buhari’s Instagram page, which claimed that the old N500 and N1000 notes would remain legal tender until May 1, 2023.
However, the CBN has reiterated that only old N200 notes will be reissued as legal tender until April 10, 2023, in line with the President’s directives. The CBN stated that it is collaborating with law enforcement agencies to identify and prosecute those spreading fake news. The public is advised to disregard such misinformation.
CBN Sticks to Presidential Directive to Reissue only 200 Naira Old Banknotes pic.twitter.com/qrrg1kvomT
— Central Bank of Nigeria (@cenbank) February 21, 2023
